Platinum Retail has enjoyed a 40% surge in turnover to £163.8m for the year ending 30 April 2024, according to its latest accounts at Companies House.
The forecourt operator reported the strong growth following investment in site expansion, food to go and technology.
“Performance during the reporting period has been very strong, with minimal changes in market competition and stable consumer demand for fuel,” the accounts said.
It added nine petrol filling stations to its estate to 49 overall, spanning Texaco, BP, Shell, and Jet, while expanding its food to go offer with BP’s Wild Bean Cafe concept, offering food and beverages in a self-serve format. It has been implemented in eight locations so far, with another six planned for 2025, as it looks to “attract customers beyond fuel purchases”, it said.
Platinum Retail also continues to develop ranging through its Subway and Starbucks partnerships, while exploring opportunities with Deliveroo, Just Eat and Uber Eats in home delivery services.
The accounts also revealed the forecourt operator is leveraging technology to enhance operational efficiency and the customer experience, such as using data analytics to optimise offerings and site performance, and systems that can monitor stock levels and operational workflows.
The retailer also pointed to its sustainability-focused agenda. It is looking towards adopting a solar-powered energy solution, which will start to be rolled out later in the year, and has signed agreements to roll out EV stations at four locations initially.
“The group’s overarching strategy includes investing in sites for strong returns, enhancing shareholder profitability, and expanding the portfolio through quality site acquisitions,” the accounts said. “Continuous improvement is pursued through staff training, supplier relationships and enhanced on-site offerings.”
Platinum Retail works primarily with Spar wholesaler AF Blakemore as its retail partner, but also holds accounts with Nisa, Morrisons Daily and Budgens.
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